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Hitachi set up two companies in the UK in 2023 – Hitachi ZeroCarbon Battery Holding and Hitachi ZeroCarbon Ltd – which lease storage batteries for EV buses. The company has expertise in the maintenance and management of storage batteries, and provides storage batteries on a flat-rate subscription basis.
MUFG Bank has just announced that it will initially invest £7.4m in the business and will further increase its investment in line with Hitachi ZeroCarbon’s business expansion. This is part of its “business co-creation investment” strategy whereby it is increasing the supply of risk funds through co-investments in companies’ new businesses and investments in startups. So far, it has invested in companies such as Astroscale Holdings, a Japanese company which is working on removing space debris.
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